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AUD/USD Technical Analysis: Intraday bearish slide finds support near 200-hour SMA

   •  The pair finally broke down of this week's consolidative trading range and fell to a one-week low, closer to mid-0.7100s during the European trading session on Wednesday.

   •  A sustained weakness below the 0.7180 strong support was seen as a key trigger for bearish traders, though the selling pressure now seems to have abated near 200-hour SMA. 

   •  Technical indicators on hourly charts have been gaining negative momentum and point to an extension of the recent corrective slide from near 1-month tops set last Friday.

AUD/USD 1-hourly chart

   •  However, oscillators on the daily chart have managed to hold in the bullish territory, though have struggled to gain traction, and might help limit any meaningful downside.

   •  Hence, it would be prudent to wait for a strong follow-through selling before confirming that the pair might have topped out in the near-term and positioning for further decline.


    Today Last Price: 0.7179
    Today Daily change: -21 pips
    Today Daily change %: -0.292%
    Today Daily Open: 0.72
    Previous Daily SMA20: 0.7098
    Previous Daily SMA50: 0.7188
    Previous Daily SMA100: 0.7174
    Previous Daily SMA200: 0.7326
    Previous Daily High: 0.7226
    Previous Daily Low: 0.7179
    Previous Weekly High: 0.7236
    Previous Weekly Low: 0.7089
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Previous Daily Fibonacci 38.2%: 0.7208
    Previous Daily Fibonacci 61.8%: 0.7197
    Previous Daily Pivot Point S1: 0.7178
    Previous Daily Pivot Point S2: 0.7155
    Previous Daily Pivot Point S3: 0.7131
    Previous Daily Pivot Point R1: 0.7225
    Previous Daily Pivot Point R2: 0.7249
    Previous Daily Pivot Point R3: 0.7272


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